Ron Mark MP

New Zealand First

Deputy Leader
10 MAY 2016

Commission Of Inquiry Urgently Needed Of NZ Tax System

New Zealand First is calling for a Royal Commission of Inquiry into New Zealand’s “opaque” tax system to combat any possible risk to the country’s international reputation.

“With the ongoing Panama Papers revelations we believe things have escalated well beyond the narrow focus of the government’s inquiry by John Shewan into foreign trusts,” says New Zealand First Deputy Leader Ron Mark.

“There are, for instance, 621 companies registered in New Zealand in which the main holding company is overseas.

“There are 152 based in the Caribbean, Central America and the Indian Ocean alone.

“We need to find out more because registered companies have been disclosed by authorities overseas as being used for money laundering and bribery and there is the added fear terrorist organisations could also be involved.

“The risks to New Zealand’s reputation are too great.

“Therefore, to restore the public’s confidence in our tax system and to mitigate any risk to our international standing, it’s imperative we have a Commission of Inquiry,” says Mr Mark.

A request has been lodged with the Prime Minister for an inquiry.

ENDS

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